Insurance News Archive

£436 million allocated for flood protection

The government has announced significant funding to reduce the risks of flooding and coastal erosion.

Earlier this month, climate change and environment minister Ian Pearson allocated £436 million to the Environment Agency to fund flood management activities, a move which may benefit many property owners.

The funds will help build and maintain defences as well as to work on flood forecasting and warning.

Some £67 million of funds has also been granted to support drainage projects at Weston-super-Mare and Ross-on-Wye.

Mr Pearson said that the "high level of funding is being used to good effect".

He added that the government would also be funding "longer term analysis of the challenges posed by flooding and coastal erosion on our coastlines – a challenge that will only intensify as a result of climate change".

29 Dec 2006